Bilibili Inc. · NASDAQ:BILI
Bilibili — Investor Presentation (November 2023)
28 slides from Bilibili's investor presentation, November 2023
Slide 1: Investor Presentation
Investor Presentation November 2023 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “antici
Slide 3: Enrich the everyday life of young generations in China
Enrich the everyday life of young generations in China 103mn 341mn 30% 29mn 100mins DAUs (1) (2) MAUs (1) (2) DAU/MAU (1) (2) MPUs (1) (3) Avg. daily time spent (1) (4) : 3
Slide 4: Rapid Growth of DAUs and User Engagement
Rapid Growth of DAUs and User Engagement DAUs (mn) DAU/MAU YOY 14% 30.2% 29.7% 29.8% 103 97 28.5% 93 94 90 84 27.3% 79 27.0% 27.2% 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 4
Slide 5: Improving Margins and Narrowing Losses
Improving Margins and Narrowing Losses Gross Profit Net Loss(1) (RMB mn) (Non-GAAP; RMB bn) YOY 38% YOY -51% 25.0% GPM 23.1% 21.8% 20.3% 18.2% 1,450 15.0% 1,250 1,228 (0.86) 1,104 (0.96) 1,054 (1.03) 738 (1.31) (1.77) (1.97) 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 Note: 5 (1) Exc
Slide 6: Golden Opportunity from Videolization
Golden Opportunity from Videolization Video becomes fundamental to information, entertainment and communication Massive Video-Based Industry(1) More Video Users(2), More Time Spent(3) (RMB bn) (mn) (Hours per day) Infrastructure 1,877 3.6 5G and 1,180 +23% video production tools +19% 1.6x 2.9 995 Su
Slide 7: Our Unparalleled Leadership in Gen Z+
Our Unparalleled Leadership in Gen Z+ The golden cohort and future of the video-based industry Our Core User Base Gen Z+ Key Characteristics Gen Z+ (1985-2009) Key driving force of consumption 450+ mn 73% Gen Z+ contribution to China’s Gen Z+ population video-based industry revenue(1) 86% of our use
Slide 8: The Story
The Story User-centric with massive opportunities Commercialization Ever-growing ecosystem Users Highly engaged, Aspiring and centered around PUGV fast growing interactive and sticky Content Community 8
Slide 9: Multi-Categories for Diverse Content Interests
Content Community Commercialization Multi-Categories for Diverse Content Interests VLOG Automobile Pets Lifestyle Games All the Videos Home Decoration You Like Music Tech Maternity Food Relationship Anime Handicraft Entertainment Fitness Autotune Remix Knowledge Traditional Chinese Art 9
Slide 10: Multi-Scenarios for Different Viewing Preferences
Content Community Commercialization Multi-Scenarios for Different Viewing Preferences Total time spent (1) On-the-go Interactive Living rooms 19% 22Q3 23Q3 Average daily video views Story Mode for fragmented time is 26% quickly gaining popularity Story Mode & PUGV and OGV contributing incremental tr
Slide 11: Ever-Growing Supply of Creative PUG Videos
Content Community Commercialization Ever-Growing Supply of Creative PUG Videos Talented Content Creators Number of daily average active content creators 21% Create reate Encourage 22Q3 23Q3 (1) High-Quality Content Creation 95% Loyal Fan Base Number of monthly video submissions (mn) total video view
Slide 12: Robust Mechanism Attracts and Supports Content Creators
Content Community Commercialization Robust Mechanism Attracts and Supports Content Creators Improved infrastructure and products to Multiple avenues support continuous creation to realize commercial value AI-powered algorithm promotes original and high quality content 1.68mn 34% content creators (1)
Slide 13: Highly Engaged and Interactive Community
Content Community Commercialization Highly Engaged and Interactive Community Interactive Features Frequently Engaged by Our Users One Click Triple-Function Combo Bullet-chat Commentary Share Following Virtual Moment Coin- Add to Like Gifting casting Favorite Highly Engaged Highly Interactive 4.7bn a
Slide 14: Highly Sticky Community with a Strong Sense of Belonging
Content Community Commercialization Highly Sticky Community with a Strong Sense of Belonging 224mn official members(1) ~80% 12-month retention rate(1)(2) (mn) 23% 100% YOY 80% 224 214 205 195 60% 183 170 158 40% 20% 0% 0 3 6 9 12 Aug-21 Sep-21 Oct-21 Nov-21 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 Dec-21
Slide 15: Commercialization Comes Naturally Around Users' Interests
Content Community Commercialization Commercialization Comes Naturally Around Users’ Interests Users’ diverse, expanding interests Desired content and services fulfilling needs VAS Advertising Efficient match powered by Diverse Big data insights of user interests Interests Mobile Games and behaviors
Slide 16: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization Bilibili Comic Pay to view comic platform Live broadcasting Premium membership Maoer Natural extension of our Enjoy exclusive or advanced Premium diversified content platform high quality content audio drama pl
Slide 17: Value-Added Services: Multi-Faceted Commercialization
Content Community Commercialization Value-Added Services: Multi-Faceted Commercialization VAS Revenues (RMB mn) 17% YOY 2,595 2,350 2,302 2,210 2,156 2,103 2,052 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 17
Slide 18: Advertising: Bilibili is Becoming a Go-To Platform for Advertisers
Content Community Commercialization Advertising: Bilibili is Becoming a Go-To Platform for Advertisers N-reach brand ads Customized and innovative Performance-based ads native ads with sales conversion add-on 18
Slide 19: Video and Live Commerce: A New Growth Driver
Content Community Commercialization Video and Live Commerce: A New Growth Driver Integrating Content with Ads 250%+ YOY (1) Total GMV from video and live commerce during Double 11 shopping season Video commerce ad products Live commerce ad products Notes: 19 (1) 10/20/2023-11/11/2023
Slide 20: Advertising Revenues: Robust Growth with Great Potential
Content Community Commercialization Advertising Revenues: Robust Growth with Great Potential (RMB mn) 21% YOY 1,638 1,573 1,512 1,355 1,272 1,158 1,041 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 20
Slide 21: Top Game Content Community with Strong Operation and Distribution Capabilities
Content Community Commercialization Top Game Content Community with Strong Operation and Distribution Capabilities Exclusive licensed games Jointly operated games Go-to video community for gamers Game-related content 2nd most popular PUGV genre Most popular live broadcasting genre (1)（2） 40%+ DAUs v
Slide 22: Our Financials
bilibtl ¢ - = pe . OUR € FINANCIALS
Slide 23: Expanding User Base and Diversifying Revenue Mix
Expanding User Base and Diversifying Revenue Mix Total DAUs Diversified Revenue Mix (mn) (RMB mn) YOY 14% 6,142 103 5,794 5,805 97 5,304 93 94 5,054 5,070 90 4,909 84 79 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 (1) VAS Advertising Mobile game IP derivatives and others No
Slide 24: Improving Cost Structure and Gross Margin
Improving Cost Structure and Gross Margin Cost of Revenues(1) (Non-GAAP; as a percentage of revenue %) 25.3% GPM 23.5% 22.0% 20.6% 18.5% 5% 5% 7% 8% 4% 10% 5% 5% 6% 12% 7% 8% 8% 9% 17% 10% 16% 14% 14% 16% 41% 41% 42% 42% 39% 22Q3 22Q4 23Q1 23Q2 23Q3 Notes: Revenue-sharing costs (2) Content costs (3)
Slide 25: Narrowing Operating Losses
Narrowing Operating Losses Operating Expenses(1) Operating Loss(1) (Non-GAAP, RMB bn; as a percentage of revenue %) (Non-GAAP; RMB bn) -15% -51% YOY YOY 2.62 2.62 7% 6% 2.18 2.17 2.22 5% 8% 7% 18% 16% (0.76) 16% (0.93) 18% 17% (1.07) (1.36) 21% 20% 17% 17% 17% (1.55) 22Q3 22Q4 23Q1 23Q2 23Q3 22Q3 22
Slide 26: Consolidated Balance Sheets
Consolidated Balance Sheets (RMB mn) December 31, 2022 September 30, 2023 Assets Cash and cash equivalents 10,173 7,640 Time deposits 4,768 4,405 Restricted Cash 15 168 Accounts receivable, net 1,329 1,650 Prepayments and other current assets 3,545 2,420 Short-term investments 4,623 2,468 Total curr
Slide 27: Consolidated Statements of Operations and Comprehensive Loss
Consolidated Statements of Operations and Comprehensive Loss (RMB mn) 22Q3 23Q2 23Q3 YoY Change Net revenues Mobile games 1,471 891 992 -33% Value-added services (VAS) 2,210 2,302 2,595 17% Advertising 1,355 1,573 1,638 21% IP derivatives and others 758 539 580 -23% (formerly known as E-commerce and
Slide 28: Thank You!
THANK YOU! IR Contacts Bilibili Inc. Juliet Yang Tel: +86-21-2509-9255 Ext. 8523 E-mail: ir@bilibili.com Piacente Financial Communications Tel: +86-10-6508-0677 (In China) Tel: +1-212-481-2050 (In U.S.) E-mail: bilibili@tpg-ir.com Bilibili Investor Relations Wechat mini program 28